Common use of Continued Vesting Upon Separation From Service Due to Retirement or Disability Clause in Contracts

Continued Vesting Upon Separation From Service Due to Retirement or Disability. Notwithstanding Section 2(a), if Participant has a Separation From Service (as defined in Section 11) with the Company or any Affiliate by reason of Disability (as defined in Section 11) or Retirement (as defined in Section 11), the Units shall not be forfeited, but rather, the Final Award Number will be determined in accordance with Section 1 (if not already determined prior to Retirement or death), and thereafter the Units shall continue to vest on the Scheduled Vesting Dates in accordance with Participant’s Award Summary, subject to the terms of the Agreement, including Section 2(f) hereof, as though such Separation From Service had never occurred, so long as the Participant has at all times since the Grant Date complied with the terms of any confidentiality and non-solicitation agreement between the Company or an Affiliate and the Participant.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\), Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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Continued Vesting Upon Separation From Service Due to Retirement or Disability. Notwithstanding Section 2(a), if Participant has a Separation From Service (as defined in Section 1110) with the Company or any Affiliate by reason of Disability (as defined in Section 1110) or Retirement (as defined in Section 1110), the Units shall not be forfeited, but rather, the Final Award Number will be determined in accordance with Section 1 (if not already determined prior to Retirement or deathDisability), and thereafter the Units shall continue to vest on the Scheduled Vesting Dates in accordance with Participant’s Award Summary, subject to the terms of the Agreement, including Section 2(f) hereof, as though such Separation From Service had never occurred, so long as the Participant has at all times since the Grant Date complied with the terms of any confidentiality and non-solicitation agreement between the Company or an Affiliate and the Participant.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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Continued Vesting Upon Separation From Service Due to Retirement or Disability. Notwithstanding Section 2(a), if Participant has a Separation From Service (as defined in Section 1110) with the Company or any Affiliate by reason of Disability (as defined in Section 1110) or Retirement (as defined in Section 1110), the Units shall not be forfeited, but rather, the Final Award Number will be determined in accordance with Section 1 (if not already determined prior to Retirement or deathDisability), and thereafter the Units shall continue to vest on the Scheduled Vesting Dates in accordance with Participant’s Award SummaryGrant Detail, subject to the terms of the Agreement, including Section 2(f) hereof, as though such Separation From Service had never occurred, so long as the Participant has at all times since the Grant Date complied with the terms of any confidentiality and non-solicitation agreement between the Company or an Affiliate and the Participant.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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